Greater than 1,600 Indian corporations have acquired overseas direct investments price $1 billion from China throughout the April 2016 to March 2020 interval, in keeping with authorities knowledge.
The info was offered in a written reply to the Rajya Sabha on Tuesday to a query on whether or not it’s a truth that giant scale investments have been made by Chinese language companies in Indian corporations, specifically the start-ups.
Over 1,600 corporations acquired $1,020.25 million ($1.02 billion) International Direct Funding (FDI) fairness inflows from China for the April 2016 to March 2020 interval, as per the information.
These corporations have been in 46 sectors. Out of them, the car trade, printing of books (together with litho printing trade), electronics, companies and electrical gear acquired greater than $100 million FDI every from China throughout the stated interval.
The car trade acquired the utmost FDI from China at $172 million. The companies sector attracted such funds price $139.65 million, the information confirmed.
Within the written reply, minister of state for company affairs Anurag Singh Thakur stated the company affairs ministry doesn’t preserve data concerning the funding made by Chinese language companies.
He stated the ministry of commerce & trade has knowledgeable that FDI Knowledge Cell compiles and maintains the information of FDI reported by way of fairness influx within the nation.
The related knowledge for the April 2016 to March 2020 interval was offered together with the written reply.
Indian and Chinese language troops are engaged in a standoff alongside the Line of Precise Management (LAC) in jap Ladakh.